business / news / / Calgary Herald
Shell plc, largest owner in the LNG Canada consortium, announced Monday it’s agreed to buy Calgary-based ARC Resources in a blockbuster $22-billion deal.
Shell agreed to buy ARC Resources in a $22 billion deal, including $3.8 billion in ARC debt.
KEY POINTS
- The acquisition will make Shell the largest condensate producer and third-largest gas producer in Canada.
- ARC shareholders will receive 0.40 Shell shares plus $8.20 cash per ARC share, a 27% premium.
- Shell aims to use ARC's dry gas assets as feedstock for LNG Canada's operations.
COMPANIES
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